The growing appeal of a life in Geelong

Yesterday I had an inspection to conduct with clients in Geelong. My daughter was on the road with me too, happy to sit in the car, waiting for me as I completed my inspections. She seemed surprised as we drove down some Geelong West streets. “Mumma, this streetscape feels like Seddon”, she said.

It dawned on me that she was right.

Beautiful, period houses, cars parked on the street, shopping and cafes a short walk away, and an inner-city vibe. She asked me how the property prices compared, and I could sense where she was going with the conversation. She sat back in the seat and said “Yeah, I could live here. This is a cool suburb.”

While she had only had a short moment in Geelong West, her response reminded me of many past conversations I’ve had with clients over the years. We have helped many clients not only buy property in Geelong, but transition to Geelong to live. For some, they’ve had a familiarity with the regional city, whether it be family roots, or a university degree. For others, their decision to move to a new city was conceived during a property investment journey.

We have proudly introduced multiple buyers to the concept of a life in Geelong via an investment brief. In recent years, three families we’ve assisted decided to move into their investment property to try it out before committing to buying a family home in Victoria’s second largest city.

It is not an unusual occurrence at all.

Affordability often starts the conversation, and those do decide to make the move recognise genuine value.

Value is about far more than price. It is about what your money buys, how you live each day and the opportunities that come with choosing a location that will work for you.

Just an hour from Melbourne, Geelong has matured into a thriving regional city with its own economy, employment base, cultural identity and education sector. It is no longer an industrial town. Many residents work locally, supported by growing industries including healthcare, education, professional services, advanced manufacturing and government.

Geelong has changed a lot in the 15 years I’ve been helping clients buy there. It’s not the town some Melburnians still have filed away in their memory from a decade or two ago.

From a property perspective, buyers are often pleasantly surprised by the type of dwelling they can secure. The same budget that may stretch to a modest townhouse in Melbourne’s middle suburbs can often purchase a character home on a generous block or a quality family home in an established Geelong neighbourhood. Lower price points, larger land sizes, period housing, quieter streets and family-friendly amenity are important attractors.

Lifestyle is another compelling factor. Geelong’s waterfront has undergone an extraordinary transformation over the past two decades, creating one of regional Australia’s most attractive foreshore precincts. The waterfront often surprises visitors who haven’t been to Geelong for a while. On a sunny day, while eating at a restaurant on the promenade, soaking in the bay’s vista is a glorious way to enjoy lunch.

Little Malop Street is a newer change to enjoy. It’s a laneway of bars and small restaurants that’s popped up almost entirely since COVID, and it wouldn’t look out of place in Fitzroy or Collingwood. Pakington Street is a long, bustling high street, spanning from Geelong West to Newtown. The shopping is diverse and reminds me of Puckle Street in Moonee Ponds, where you can get pretty much anything you need.

The train gets most people into the city in under an hour, which is workable for a full-time CBD role. For anyone who’s shifted to hybrid or remote work, the travel consideration changes once the commute isn’t compulsory every day. Deakin University’s Waterfront and Waurn Ponds campuses educate over 12,000 students, and it’s very common to see commuting students returning to Geelong on a Sunday afternoon train.

For families, the appeal extends even further. Excellent public and private schools, and quality healthcare are drawcards for many.

The city’s location also provides exceptional access to some of Victoria’s most popular destinations. The Bellarine Peninsula, the Surf Coast and the Great Ocean Road are all on Geelong’s doorstep. Weekend escapes become part of everyday life rather than carefully planned holidays.

However, no property market is perfect.

Some pockets of Geelong have experienced stronger price growth than others, while certain suburbs continue to offer better long-term prospects based on land scarcity, owner occupier demand and access to amenities.Established suburbs with character homes, good school catchments, walkability and proximity to transport generally continue to attract strong owner occupier interest. These are the locations that often demonstrate resilience through changing market conditions.

For buyers considering a move, timing is often less important than buying well. Purchasing the right property in the right location, with careful consideration of lifestyle needs and long-term objectives, is far more valuable than attempting to perfectly predict the market.

After many years of helping clients purchase throughout Geelong, one observation remains consistent. Nobody has regretted making the move. Some wonder why they didn’t do it sooner.

As Melbourne property prices continue to challenge many households, Geelong presents an increasingly compelling alternative. Buyers are not simply purchasing a home at a lower price point. They are buying into a city that offers lifestyle, opportunity, heritage era housing and a great community.

I think it’s a great value proposition.